BOSTON – The United States Attorney’s Office filed a civil forfeiture action to recover cryptocurrency alleged to be proceeds of an online investment fraud scheme targeting victims in Massachusetts and elsewhere. The government seeks to forfeit 81,547 USDT (Tether) and 87,321 BEL (Bella Protocol) traceable to the fraud, which has been seized by the government. Tether is a unit of cryptocurrency that is equivalent in value to one U.S. dollar. Bella Protocol is also a cryptocurrency with a value that fluctuates with the market.
In April 2022, a federal investigation began into an investment fraud scheme that targeted a Massachusetts victim. As detailed in court documents, the victim had been contacted in March 2022 through LinkedIn by an alleged scammer. After further communications in Chinese through another application, the victim was lulled into making what she believed was a legitimate cryptocurrency investment. The victim was induced to download an application that appeared to be a legitimate cryptocurrency platform but was allegedly fraudulent, and then invested money through that fraudulent site.
During the investigation, a second victim in California was identified, who was also allegedly lulled into investing in a fraudulent cryptocurrency scheme after an initial contact through LinkedIn.
A portion of the funds the victims invested to another cryptocurrency wallet was traced, resulting in the seizure of 81,547 USDT and 87,321 BEL.
It is a violation of…
